CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The National Highways Authority of India (NHAI) has entered into a significant deal for the building of a Multi Modal Logistics Park (MMLP) in Nagpur with M/s. DC Multi Modal Park (Nagpur) Limited, a Special Purpose Vehicle (SPV) of M/S. DeltaBulk Shipping India Pvt. Ltd. This project, estimated to cost Rupees 673 crore, would be built on 150 acres using the Public Private Partnership approach, marking a watershed moment in the country's development and coinciding with the PM Gati Shakti National Master Plan.
Significance
The MMLP, which will be developed in three phases, will be the first in Maharashtra under the PM Gati Shakti National Master Plan. Phase-I, which would cost Rupees 137 crore, is expected to be finished in two years. This program is consistent with the country's aim for infrastructure development and will benefit industrial zones in the catchment area, which includes Nagpur, Wardha, Chandrapur, and Gondiya.
Strategic Location
MMLP will be located in Sindi, near the railway station, in Maharashtra's Wadha district. The prime location is close to the Nagpur-Mumbai Maha-Samruddhi Mahamarg and the Howrah-Nagpur-Mumbai rail line. It is also accessible by the four-lane Nagpur-Aurangabad NH 361. The property is strategically located, 48 kilometers from Nagpur International Airport and 56 kilometers from Nagpur Railway Station.
Collaboration
The project comprises NHAI and the Jawaharlal Nehru Port Authority (JNPA) working together through a government SPV called Nagpur MMLP Pvt. Ltd. This SPV was founded by NHLML, a 100% owned subsidiary of NHAI, and JNPA, with JNPA providing the land for MMLP development and NHLML providing external rail, road connectivity, as well as water and power supply.
Facilities Provided
The MMLP will include warehouses, cold storage facilities, intermodal transfers, container terminals, and bulk/break-bulk cargo terminals. Sorting/grading, aggregation/desegregation areas, bonded warehouses, and customs facilities will also be provided as value-added services. The initiative is projected to create significant job opportunities and drive regional economic development.
Impact On Indian Logistics Sector
The creation of MMLP is consistent with the Government of India's objective to improve the country's freight logistics sector. This project intends to dramatically improve the efficiency of the Indian logistics sector by promoting efficient inter-modal freight movement, cutting overall freight costs, optimizing warehousing, and strengthening tracking and traceability.
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